- KR Bharat
- 2025-09-23
Global oil prices have surged recently, with Brent crude reaching approximately $80 per barrel, marking a significant increase from earlier in the year. This upward trend is attributed to several key factors:
1. Geopolitical Tensions
Ongoing conflicts in Ukraine have disrupted oil production and refining capacities, particularly in Russia. Ukraine's drone strikes on Russian refineries have led to a reduction in gasoline and diesel exports, tightening global supply and contributing to higher prices.
2. Supply Chain Disruptions
The recent agreement between Iraq's federal government and the Kurdish regional government to restart an oil pipeline through Turkey has raised concerns about oversupply. This development has led to a decrease in oil prices, as markets anticipate an increase in global supply.
3. Market Speculation and Investor Sentiment
Financial markets play a significant role in oil price fluctuations. Economic conditions, such as improving macroeconomic indicators, can lead to increased demand for commodities, including oil, thereby driving up prices
